AGM approves two independent directors, two whole-time directors, authorised capital increase and office shift from Maharashtra to Gujarat

61st AGM held 29th September, 2026; members approved appointing Mr. Ganesh Ramanathan and Mr. Subhash Ambubhai Patel as Non-Executive Independent Directors, and Mr. Parth Meenesh Patel and Mr. Nikhil Sadarangani as Whole-time Directors.

Thu 1 Oct 2026

AGM held

61st AGM held on 29th September, 2026

Independent Directors appointed

Ganesh Ramanathan (DIN: 00016260) and Subhash Ambubhai Patel (DIN: 00535221), each for five (5) years from 14th July, 2026 to 13th July,…

Whole-time Directors appointed

Parth Meenesh Patel (06714101) and Nikhil Sadarangani (11284679), each for five (5) years from 13th October, 2025 to 12th October, 2030

Registered office shift

from the state of Maharashtra to the state of Gujarat (Special Resolution)

Authorised Share Capital

Increase in the Authorised Share Capital of the company (Special Resolution)

What the company told the exchanges

Organic Coatings Ltd informed the exchanges that its 61st Annual General Meeting was held on Tuesday, 29th September, 2026 through video conferencing, starting at 01:30 P.M. and concluding at 2:18 P.M. The letter sets out the business transacted and approved by the members, and encloses separate disclosures for the new appointees.

Board changes approved

• Mr. Ganesh Ramanathan (DIN: 00016260) appointed as Non-Executive Independent Director for a term of the first five (5) consecutive years, from 14th July, 2026 to 13th July, 2031.
• Mr. Subhash Ambubhai Patel (DIN: 00535221) appointed as Non-Executive Independent Director for a term of the first five (5) consecutive years, from 14th July, 2026 to 13th July, 2031.
• Mr. Parth Meenesh Patel (06714101) appointed as a whole-time director for five (5) years, with effect from 13th October, 2025 to 12th October, 2030.
• Mr. Nikhil Sadarangani (11284679) appointed as a whole-time director for five (5) years, with effect from 13th October, 2025 to 12th October, 2030.
• Each of these disclosures states Nil under disclosure of relationships between directors.

Who the new directors are

• Mr. Ramanathan: over four decades of experience in Finance, Capital Markets and Investment Banking, with leadership roles across corporate finance, stock broking, housing finance and advisory services; began at Blue Star Ltd in 1983, later served as Director at Kaynet Finance Ltd and Financial Advisor to the Sujana Group; currently Independent Director on the Board of Systematix Corporate Services Ltd (NSE & BSE listed), Managing Director of Grow Wealth Consultants Pvt Ltd and Promoter Director of Arantree Consulting Services Pvt Ltd. Qualifications: Cost Accountant – ICWAI, LLB, Bachelor of Arts (Economics), certifications in Capital Markets and Financial Management.
• Mr. Subhash Ambubhai Patel: Founding Partner of S. A. Patel & Co., Chartered Accountants, Vadodara, which he has led for over 38 years; a Chartered Accountant (ICAI), qualified Information Systems Auditor and B.Com. His experience covers audit, taxation, valuation and regulatory matters, and he served as an Independent Director on the Board of India Home Loan Limited, a listed company, from 2008 to 2019.
• Mr. Parth Meenesh Patel: over a decade of experience spanning sales, operations and analytics, gained across India and the US. Qualifications: MBA, Babson College and B.Sc, Drexel University.
• Mr. Nikhil Sadarangani: responsible for driving business development and expansion of the company's reach in both domestic and international markets. Qualifications: Master of Science in International Business and Master of Science in Disruptive Innovation.

The other resolutions approved

• Adoption of the Audited standalone Financial Statements as at 31st March, 2026, together with the Report of the Board of Directors and the Auditors (Ordinary Resolution).
• Approval of the limit for related party transactions with related parties of the company for the financial year 2026-27 (Ordinary Resolution).
• Increase in the Authorised Share Capital of the company (Special Resolution).
• Enhancement in overall borrowing limits of the company under Section 180 of the Companies Act, 2013 (Special Resolution).
• Creation of mortgage or charge on the assets, properties or undertakings of the company under section 180(1)(a) (Special Resolution).
• Shifting of the registered office of the company from the state of Maharashtra to the state of Gujarat (Special Resolution).
• Remuneration payable to Mr. Abhay Rajnikant Shah (00016497), managing director of the company (Special Resolution).
• Remuneration payable to Mr. Sundaramurthy Kuppamuthu (07282015), whole-time director of the company (Special Resolution).

How to read this

The two independent directors and the two whole-time directors now have stated tenures of five (5) years, which fixes the period of their board and executive roles. The capital and borrowing resolutions set the limits within which the board can act, while the separate resolution covers creation of mortgage or charge on company assets. The registered office resolution changes the state in which the company is registered, from Maharashtra to Gujarat.

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